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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

discretionary pension benefit


      1. (1) (in SYSC 19C) enhanced pension benefits granted on a discretionary basis by a firm to an employee as part of that employee's variable remuneration package, but excluding accrued benefits granted to an employee under the terms of his company pension scheme.[Note: article 4(49) of the Banking Consolidation Directive]
      1. (2) (in IFPRU,9696SYSC 19A(IFPRU Remuneration Code) and SYSC 19D (Dual-regulated firms Remuneration Code) 96) has the meaning in article 4(1)(73) of the UK CRR124.